Central Asia: Chemically Modified Oils Market 2024

Chemically Modified Oils Market Size in Central Asia

The Central Asian chemically modified oils market fell slightly to $X in 2022, approximately reflecting the previous year. The total consumption indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2021, and then shrank modestly in the following year.

Chemically Modified Oils Production in Central Asia

In value terms, chemically modified oils production declined to $X in 2022 estimated in export price. The total production indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by +0.9% against 2020 indices. The growth pace was the most rapid in 2015 with an increase of 21% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Chemically Modified Oils Exports

Exports in Central Asia

In 2022, overseas shipments of animal or vegetable fats and oils chemically modified increased by 147% to X tons, rising for the second year in a row after two years of decline. In general, exports, however, continue to indicate a noticeable contraction. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, chemically modified oils exports surged to $X in 2022. Over the period under review, exports, however, continue to indicate a perceptible decline. The most prominent rate of growth was recorded in 2017 when exports increased by 108%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Kazakhstan (X tons) represented the main exporter of animal or vegetable fats and oils chemically modified, generating 80% of total exports. It was distantly followed by Turkmenistan (X tons), comprising a 17% share of total exports. Uzbekistan (X tons) took a minor share of total exports.

Exports from Kazakhstan decreased at an average annual rate of -1.1% from 2012 to 2022. At the same time, Uzbekistan (+56.8%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing exporter exported in Central Asia, with a CAGR of +56.8% from 2012-2022. By contrast, Turkmenistan (-6.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Kazakhstan and Uzbekistan increased by +7.3 and +3.7 percentage points, respectively.

In value terms, Kazakhstan ($X) remains the largest chemically modified oils supplier in Central Asia, comprising 70% of total exports. The second position in the ranking was taken by Turkmenistan ($X), with a 24% share of total exports.

In Kazakhstan, chemically modified oils exports contracted by an average annual rate of -4.3% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Turkmenistan (-4.8% per year) and Uzbekistan (+59.8% per year).

Export Prices by Country

In 2022, the export price in Central Asia amounted to $X per ton, waning by -21.6% against the previous year. Over the period under review, the export price saw a slight reduction. The growth pace was the most rapid in 2021 when the export price increased by 20%. The level of export peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Uzbekistan ($X per ton), while Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkmenistan (+1.9%), while the other leaders experienced mixed trends in the export price figures.

Chemically Modified Oils Imports

Imports in Central Asia

In 2022, imports of animal or vegetable fats and oils chemically modified in Central Asia reduced dramatically to X tons, with a decrease of -18.8% compared with 2021 figures. Overall, imports, however, showed a resilient expansion. The pace of growth was the most pronounced in 2015 when imports increased by 140% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2021, and then reduced notably in the following year.

In value terms, chemically modified oils imports soared to $X in 2022. Over the period under review, imports, however, continue to indicate a tangible increase. The most prominent rate of growth was recorded in 2015 with an increase of 100%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Kazakhstan (X tons) was the key importer of animal or vegetable fats and oils chemically modified, committing 71% of total imports. It was distantly followed by Uzbekistan (X tons) and Mongolia (X tons), together generating a 20% share of total imports. The following importers - Kyrgyzstan (X tons) and Tajikistan (X tons) - each recorded an 8.5% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to chemically modified oils imports into Kazakhstan stood at +28.4%. At the same time, Tajikistan (+38.5%) and Kyrgyzstan (+18.7%) displayed positive paces of growth. Moreover, Tajikistan emerged as the fastest-growing importer imported in Central Asia, with a CAGR of +38.5% from 2012-2022. By contrast, Uzbekistan (-3.0%) and Mongolia (-7.5%) illustrated a downward trend over the same period. While the share of Kazakhstan (+58 p.p.), Uzbekistan (+11 p.p.), Tajikistan (+3.8 p.p.) and Kyrgyzstan (+2.6 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Mongolia (-34.1 p.p.) displayed negative dynamics.

In value terms, Kazakhstan ($X) constitutes the largest market for imported animal or vegetable fats and oils chemically modified in Central Asia, comprising 58% of total imports. The second position in the ranking was taken by Mongolia ($X), with a 20% share of total imports. It was followed by Uzbekistan, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Kazakhstan amounted to +17.4%. The remaining importing countries recorded the following average annual rates of imports growth: Mongolia (-2.3% per year) and Uzbekistan (+2.7% per year).

Import Prices by Country

In 2022, the import price in Central Asia amounted to $X per ton, with an increase of 44% against the previous year. Overall, the import price, however, showed a noticeable downturn. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mongolia ($X per ton), while Tajikistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+5.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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